Trump tariffs are fueling inflation, congressional budget chief says

Core Viewpoint - The Congressional Budget Office (CBO) director indicates that President Trump's tariffs have contributed to higher inflation than initially anticipated, contrasting with Wall Street analysts' expectations [1] Group 1: Economic Impact of Tariffs - The CBO analysis suggests that the economy has weakened since January, which is expected to exert downward pressure on inflation [1] - The CBO projects that Trump's tariffs will reduce the U.S. budget deficit by $4 trillion over the next decade, comprising $3.3 trillion in revenue and $700 billion in averted debt costs [2]